Gregmal

The problem, is that what they don’t get, or do understand but realize they’ve shit the bed with, is that when you call every opponent a racist/fascist/bigot/far right/etc….no one takes you seriously anymore. This goes back to the “they made their bed when they did what they did to Romney” situation during Obama term 2….

We were recently in the downtown area. Chez Lionel right outside Bell Center was hands down the best near stadium food I’ve ever had. Typically this sort of stuff, located next to the arenas is overpriced garbage food because they know they’ll have customers. The Artic Char and escargot was tremendous. Reubens is a must go. Monarque was great and quite unique. Deville was a great brunch Yoko Luna was awesome. There were a few great speciality poutine places and like I said, a ton of kinda quick serve Indian and middle eastern concept places that were great.

Agree. Montreal was absolutely insane on both quality and value. And it’s even better if you’re a mediocre QSR food type junky with all the diversity on that end. Just amazing stuff food wise.

LOL is crying racism really a rebuttal though? The attraction of NYC as a premier destination for younger people is the deep talent pool and global diversity; the dating pool and the high end jobs; sex and money. The GS banking intern from Paris does that. So does the lax bro from SoCal. The tech whiz from Belarus or the kid from India whose family has him staying with the rich uncle. Gangbangers on scooters or bottom 10% talent pool level folks sleeping in sidewalk tents from culturally shattered regions certainly does not. That's why it matters.

This article does a good job really highlighting it all. If you’re still in NYC you need to have your head examined https://nypost.com/2025/05/02/business/ex-new-yorkers-dish-on-why-they-moved-to-florida-for-good/

Yup. How you forget? Pretty sure you were riding the money printer in 2020/21 with us! The reason Fairfax was interesting in late 2021/22/23 is because it didn’t really recover AND it was inflecting. Hardest part early on was not flipping it after the first 50% or so(this was basically the “are we still a shitco or is this now different” part of the equation) but by then I had enough confidence that things were materially different on the fundamental side.

In theory sure, but that is a little bit of a revisionist history. This was early 2020 into 2021 and for much of the prior decade, Fairfax nailed many of the qualifications of a shitco. I know it’s heresy here to say that, but it’s true. Meanwhile there was plenty, plenty of no brainer quality that got thrown out with COVID because people thought it was wise to panic first. Whether it was just taking quick 30-50% gains or finding long term value, during this period there were plenty of very low risk ways to make a ton of money. Towards the backend of 2021 is when it started seeming obvious that everything(minus some pockets of value such as with Fairfax) had recovered. Covid was really just an exercise in following the flows of money and hysteria.

Yup. Obvious as day

Yea it was all good. This was at a point where Fairfax was inflecting. This site, not unsurprisingly given the name, has over the years had a lot of cheerleaders and for a long time, Fairfax was not being operated properly which often went unacknowledged. Particularly pre Covid some of the errors began getting corrected but if you owned it pre Covid or bought it too early into Covid it was largely an opportunity cost. Which iirc was a big part of the debate in Q3 2021; like why are you bragging about buying at $275-300 when that’s like some of the worst bottom to top during covid period returns I’m aware of, and going forward, what needs to happen for things to be exceptional? If you bought at $300/400/500…it really comes down to a timing thing cuz plenty of people owned at those prices for a long time and it was mediocre. If you waited for the fundamental inflection and just paid $600/700/800 it was some of the easiest/highest IRR money ever made. Price and value sometimes have an interesting but complicated relationship.

1) Prem needed to buyback stock -a month after this comment Fairfax launched a tender offer 2) Prem needed to move on from the shitcos Shortly thereafter stuff started getting sold, highlighted by the RFP sale 3) Prem needed to show consistency just sticking to the strengths and not trying to be the next macro genius -this has continued From the day of the tender announcement, you could’ve bought stock around $445(I did), and it’s been smooth sailing.

I mean outside of you taking a more in depth conversation completely out of context? There were several things that I listed, care to list what they were? At the point in time you were referring to the debate was basically Fairfax was trading at ~$425 a share and all you guys were high fiving about a ~50% move off the Covid bottom…to which I merely pointed out how you could’ve done way better throwing darts at lots of stuff from the Covid bottoms and done 100-500% and in many cases even more, during the 12-15 month stretch of time.

I just hope that whenever it is, the next time we have a correction there’s more articles telling us how Warren Buffett wisely raised a record amount of cash by selling huge chunks of stock at prices well below their current marks. Also maybe a Grantham or Gundlach interview where they get introduced as “the guy who called the crash”.

I’m pretty sure he’s a debt guy….so I doubt he’s holding much cash.

So Brookfield as a publicly traded entity has more filed financials(sometimes of questionable legitimacy) than Trump Org and that’s the basis for the conclusion that it doesn’t engage in similar tactics? Trump has undoubtedly turned a large inherited amount of money into significantly more money. The slight I then often hear resembles something like “he didn’t outperform the index” or something to discredit it. And then I scroll down two topics and see the ghastly misrepresentations of Monish Pabrai’s worth and returns and just shrug. General point is that people seem really invested in staking to this claim that Trumps finances are an illusion or that he’s inherited $50b and turned it into $3b or whatever when that’s clearly false. His tactics are certainly cheesy and sleazy and not my cup of tea, but not uncommon in the business world. Yet that gets ignored in terms of context. I really don’t believe people aren’t aware of Caesar’s bankruptcy or the fact that LLCs are used to basically bury risk and give the owner a way to walk from a potential obligation.

Sure, I get that he has an incredibly low bar and will put his name on absolutely anything to make money, even a shitcoin….but this doesn’t answer my question at all.

Ok so this is one of the key go to’s for some folks. My question is, haven’t plenty of casinos had this happen or come close? Like isn’t Caesar’s a poster child for this? Didn’t Carl Icahn have involvement in some of it? Isn’t the classic retort for casinos that they’re cyclical? Also on the same front, don’t plenty of people whom seemingly detest Trump and consider him a loser in terms of business acumen happily own Brookfield? An entity that basically mirrors the Trump strategy? One that lacks shame in happily walking from underperforming assets? That levers everything to the gills? That’s mastered the use of non recourse debt and LLCs established to hang their greed on someone else? Isn’t that somewhat hysterical that on one hand they detest Trump doing it, but seemingly find the same behavior acceptable for their own investment?

Only because it’s probably some low level aspiring MSM snoot who hasn’t advanced in his career enough to become a full blown POS.

Any guesses how much the asshole at CNBC who is tasked with immediately updating the red BREAKING! alert every round number hundred of DOW points to say “stocks PLUMMET xxx points” in sensational fashion gets paid?

Which was pretty much my response to @John Hjorth. People may think they're being factual, but even there, they're often led to the conclusion they want to find. Soooo, yea.....if you click on this topic, be OK with contributing to the landfill.

Ironically the Blue Jays problem is that no one wants to play in Toronto because of the taxes….it happens every year. Shit Steven Stamkos grew up dreaming of being a Leaf, then when it came time to go he decided he liked Florida better, largely because of the tax situation on a long term deal.

That’s the plan…doesn’t mean I see its benefits either outside of strong arming some countries whom need us; so I share your confusion. End result is probably negligibly lower multiples for premium US stocks. Otherwise, think it’s just an opportunity to trade and short vol. See the benefit is one doesn’t have to care either way and certainly not be emotionally invested. Just take what the market gives you as always. Trump is the gift that keep on giving on that front.

Typical Trump, start out crazy and over the top, and walk it way back and settle for small victories that can be touted as big ones.

We’ve literally had folks posting what they think is concrete evidence that Trump is lying and has no plan with the tariffs. When you change the variables around it’s kind of obvious how stupid the argument is and how the “facts” aren’t really facts at all. Vlad Jr asked the Blue Jays for $600m. He ended up signing for $500m. Ah ha! He lied! He’s a POS! He had no plan and caved! Yes! LMFAO whereas a normal non deranged thought process would be…it’s called a negotiation. No one goes in guns blazing with their final offer on day 1. Sure you could call it lying, or caving, but that says more about your understandings of how things work than anything. To the above point, responding to such nonsense, whether with 5 paragraphs and sources and quotes and podcasts, or simply saying “that’s retarded” is one in the same to such a bogus tirade; in fact, simply calling it retarded would be more efficient from a time perspective. Why should someone else’s issue become my burden?

Nah, because what we ve seen enough of in these topics is even the people whom think they’re presenting facts put out these super long and even sourced, what shall we call them…diatribes, and in reality they’re just citing confirmation bias bs and flawed sources. Making it all pretty much just junk.

Yea Russell is such a POS lol always my favorite hedge index